Commercial Property
The property comprises a two storey mid terraced retail unit of brick construction with a pitched roof, currently let to Done Brothers trading as Betfred.
The ground floor comprises of a retail unit occupying a trading area of approximately 1,400 sq.ft. (130 sq.m.), along with ancillary office, WC and kitchen facilities extending approximately 360 sq.ft. (33 sq.m.).
The first floor accommodation is accessed via an internal staircase leading to a landing area off which six separate rooms of various sizes configured for office use, extending the footprint of the ground floor accommodation.
The property occupies a prominent position within a well established parade fronting Lower Brook Street within the heart of Rugeley Town Centre shopping district. There are a number of national retailers with New Look, Costa Coffee, Clinton Cards and Peacocks all within the immediately vicinity.
Rugeley is a market town close to Lichfield, which lies between the towns of Stafford and Cannock.
We understand that the property is Freehold, subject to a Lease to Done Brothers, trading as Betfred, on a FRI basis, commencing 4th January 2011, for a term of 15 years at a current rent of £26,500 per annum. Full Lease details and a copy of the Lease will be available for inspection within the legal pack.
We understand that VAT will not be chargeable on this transaction.
Strictly by arrangement with the Auctioneers.
Freehold. Commercial investment.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
